Syndicate Bank Intraday Buy Call

Syndicate Bank Intraday Buy CallTechnical analyst Jatinder Sharma has maintained 'buy' rating on Syndicate Bank stock with a target of Rs 121.

According to analyst, the stock can be bought with a stop loss of rs 108.

The stock of the bank, on Feb 03, closed at Rs 113.20 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 164.20 and a low of Rs 80 on BSE.

Current EPS & P/E ratio stood at 17.76 and 6.45 respectively.

On account of higher core earnings, Syndicate Bank has registered a 24.5% growth in its net profit, which stood at Rs 256.1 crore for the three month period December 2010.

Whilst the total income grew by 17.9% to Rs 3,156.8 crore, the operating profit surged 67.6% to Rs 712.1 crore.

Public sector lender said that its net interest income surged 60% to Rs 712.1 crore. NIL also bettered to 3.6% from 2.5% an year earlier.

The company's overall biz surged 18% to Rs 225,910 crore.

Gross non performing assets (NPAs) fell to 2.32% from 2.43% during 2009.

Bank's net NPAs came down to 0.95% as against 1.02%.

The bank's CAR fell to 11.7% from 13.5 per cent last year




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